I'm trying to get one of these, but because I had some account there 16 years ago, it won't let me complete the app online. I'm on my second call to customer service. I am not impressed.

When I logged on to my Cap One Account (I have a credit card with them) I opened the new account with the code SCORE500 with no problems. Had a savings account a couple of years ago in my wife's name, but now used my SS # and it went through.

I'm trying to get one of these, but because I had some account there 16 years ago, it won't let me complete the app online. I'm on my second call to customer service. I am not impressed.

When I logged on to my Cap One Account (I have a credit card with them) I opened the new account with the code SCORE500 with no problems. Had a savings account a couple of years ago in my wife's name, but now used my SS # and it went through.

Finally figured out it was an old ING account that they somehow acquired ?? Anyway if you had one of those seems you are doomed. Four calls to customer service and elevated to manger, they have a ticket open but no luck so far.

Before you set up this account get your money organized. The Cap 1 money eligible for the bonus must arrive in the account within 10 days of opening. You can only set up 1 external bank account at a time, and each one will take several days to get the test deposits and verify. In other words, you should have all the money coming from one source.

Thanks for pointing this out. I never thought about it, I just opened this account with one source for transfer but now I'm little anxious to see when transfer will take place.

Happy to report that transfer has taken place from one (and only) source. Took under 5 business days.

I was in the Capital One 360 paying 1.5% until they dropped the rate to 0.5% last month...Transferred the entire balance to the Capital One Performance Savings still paying 1.5%....

Why must they play these games?

Summit

Wow, thanks for sharing that. I take a pretty passive approach and had a significant balance in that account. Just checked and in fact 0.5%. I don’t recall any notice about this as that’s way lower than all the top banks. I had assumed they were staying in line. I might actually transfer it over to another bank.

I just posted this on another thread as well. I signed up for the "new" savings account in a few minutes but once it funds I'm going to look for other options, do some bonus hunting and go to a no-penalty CD for the bulk of it I imagine. I looked back at all my emails from Capital One and none of them reference this new type of account or what was being done with rates. The more I think of it I'm pretty furious. Oh and of course no bonus to go from their crappier savings account/rate to the new account. So, yeah insult to injury especially considering all the money I've held with them. My interest being stripped and used to bonus-out and serve new depositors.

So I did a full scan in my email box, and zero notifications anywhere of the 1.5% to 0.5% drop. I even checked spam, zero. I did see some fake scam notification, but nothing from Cap1 regarding rate reduction. Is this even allowed? I would imagine they need to inform customers of a drastic change? Considering I had a high xx,xxx balance in there, just like you said this is a significant loss. Do you know when it changed to 0.5%? They must have made a lot of extra funds to support the new customer deposits bonuses, that we are also not eligible for right? Do you think we can possibly have them retroactively apply the previous rate, since I would have obviously moved the funds to another account or CD if I knew it was 0.5% (!)?

To everyone else in the thread, I might be weary of this new bonus. I'm sure they have plans to drastically drop the rates, and it may even become less attractive than non-bonus offers.

I was in the Capital One 360 paying 1.5% until they dropped the rate to 0.5% last month...Transferred the entire balance to the Capital One Performance Savings still paying 1.5%....

Why must they play these games?

Summit

Wow, thanks for sharing that. I take a pretty passive approach and had a significant balance in that account. Just checked and in fact 0.5%. I don’t recall any notice about this as that’s way lower than all the top banks. I had assumed they were staying in line. I might actually transfer it over to another bank.

I just posted this on another thread as well. I signed up for the "new" savings account in a few minutes but once it funds I'm going to look for other options, do some bonus hunting and go to a no-penalty CD for the bulk of it I imagine. I looked back at all my emails from Capital One and none of them reference this new type of account or what was being done with rates. The more I think of it I'm pretty furious. Oh and of course no bonus to go from their crappier savings account/rate to the new account. So, yeah insult to injury especially considering all the money I've held with them. My interest being stripped and used to bonus-out and serve new depositors.

So I did a full scan in my email box, and zero notifications anywhere of the 1.5% to 0.5% drop. I even checked spam, zero. I did see some fake scam notification, but nothing from Cap1 regarding rate reduction. Is this even allowed? I would imagine they need to inform customers of a drastic change? Considering I had a high xx,xxx balance in there, just like you said this is a significant loss. Do you know when it changed to 0.5%? They must have made a lot of extra funds to support the new customer deposits bonuses, that we are also not eligible for right? Do you think we can possibly have them retroactively apply the previous rate, since I would have obviously moved the funds to another account or CD if I knew it was 0.5% (!)?

To everyone else in the thread, I might be weary of this new bonus. I'm sure they have plans to drastically drop the rates, and it may even become less attractive than non-bonus offers.

Sadly this has been a slow bleed. I looked up statements from the past many years and it looks like it was 1% 2017/2018 through Sept 2019 at which time it went down monthly: 0.89, 0.8, 0.63, 0.6, 0.6, 0.54, 0.5. Mine came over from ING I think and started at 0.75%.

It's clearly not been a great place for me to keep my money. I've moved everything to the new and improved version but I do want to get out of there.

I’ve been looking at this offer for a new account just to get the bonus. Other than the hassles mentioned so far, can anyone comment on the “closeout” process? IF they drop rates significantly below the competition, I’d be looking to move the funds back out as soon as the 90-day holding period ends to pursue better returns and avoid monthly fees.

I was in the Capital One 360 paying 1.5% until they dropped the rate to 0.5% last month...Transferred the entire balance to the Capital One Performance Savings still paying 1.5%....

Why must they play these games?

Summit

Wow, thanks for sharing that. I take a pretty passive approach and had a significant balance in that account. Just checked and in fact 0.5%. I don’t recall any notice about this as that’s way lower than all the top banks. I had assumed they were staying in line. I might actually transfer it over to another bank.

I just posted this on another thread as well. I signed up for the "new" savings account in a few minutes but once it funds I'm going to look for other options, do some bonus hunting and go to a no-penalty CD for the bulk of it I imagine. I looked back at all my emails from Capital One and none of them reference this new type of account or what was being done with rates. The more I think of it I'm pretty furious. Oh and of course no bonus to go from their crappier savings account/rate to the new account. So, yeah insult to injury especially considering all the money I've held with them. My interest being stripped and used to bonus-out and serve new depositors.

So I did a full scan in my email box, and zero notifications anywhere of the 1.5% to 0.5% drop. I even checked spam, zero. I did see some fake scam notification, but nothing from Cap1 regarding rate reduction. Is this even allowed? I would imagine they need to inform customers of a drastic change? Considering I had a high xx,xxx balance in there, just like you said this is a significant loss. Do you know when it changed to 0.5%? They must have made a lot of extra funds to support the new customer deposits bonuses, that we are also not eligible for right? Do you think we can possibly have them retroactively apply the previous rate, since I would have obviously moved the funds to another account or CD if I knew it was 0.5% (!)?

To everyone else in the thread, I might be weary of this new bonus. I'm sure they have plans to drastically drop the rates, and it may even become less attractive than non-bonus offers.

For the 360 Money Market account, the 0.5% only applies to balances below $10,000. Balances $10k and above are currently at 1.3%. Rather than take a random Internet poster's word at it, you can go straight to the rate disclosure page.

I’ve been looking at this offer for a new account just to get the bonus. Other than the hassles mentioned so far, can anyone comment on the “closeout” process? IF they drop rates significantly below the competition, I’d be looking to move the funds back out as soon as the 90-day holding period ends to pursue better returns and avoid monthly fees.

Good question. I’m planning to open my 360 today. Just spoke to Cap One and the agent said you need to keep the account open for 60 days after the 90 day period to get the bonus. So just keep a few dollars in the account so it’s open, if rates drop a lot.

Before opening the account, I was concerned about getting $50K transferred within the 10-day period. I called CO early morning on 5/5. After some discussion, the best option seemed to be physically mailing them a check to the specified address: Capital One 360, PO Box 60, St Cloud MN 56302-0060.

I opened the account online that day (5/5/20) -- very quick process. I mailed the check (from my taxable Vanguard brokerage account) that same day. It was deposited into the new Capital One 360 account on 5/8/20. The $50K deposit was shown on 5/8/20 but not "available" until today, 5/14/20. So, I believe it worked. I'll know in another three months.

Opened the C1 savings account late on Monday 5/11. Got email confirming account early on Tuesday. Two test deposits on Thursday. They pulled the combined deposits back as one withdrawal today (Friday 5/15). There was no interaction with me to confirm the test deposits or amounts. When I logon to C1 they show a transfer scheduled for today, 5/15 for my opening deposit.

Before I opened the account I called to ask if they did a credit check since all our credit is locked. I was told "no". There was no problem. I also asked about personal v. joint accounts and whether C1 had to match the linked account. I was told no issues there as well. In the end we did a joint account linked to a joint account.

The email I got on opening the account does state that "you'll see your bonus in your new account within 160 days of account opening." So the 90 day period plus an additional 70 days to actually get the bonus?

The email I got on opening the account does state that "you'll see your bonus in your new account within 160 days of account opening." So the 90 day period plus an additional 70 days to actually get the bonus?

As of today, they're still showing a 1.50% APY.

You have to leave requisite funds in account for at least 90 days, but C1 has said it will take up to 60 days for the funds to be deposited in the account. So up to 160 days total including the 10-day funding period. You can remove funds after first 100 days, but must keep it open to get bonus.

I assume they will keep APY at 1.5% through the end of May, which is when the promo ends. I imagine rates will start to decrease in step with the overall market next month, and rates will be similar to those of other online banks.

I also opened up two 360MM accts with the bonus. one for me and one for the DW. so we'll get $1000 in bonus money. lucky i had a CD come due a few days earlier and had the money ready. it did take a total of 4 business days to see the money there. thought that was a little long. Told my son, and he setup one as well

Opened the C1 savings account late on Monday 5/11. Got email confirming account early on Tuesday. Two test deposits on Thursday. They pulled the combined deposits back as one withdrawal today (Friday 5/15). There was no interaction with me to confirm the test deposits or amounts. When I logon to C1 they show a transfer scheduled for today, 5/15 for my opening deposit.

Before I opened the account I called to ask if they did a credit check since all our credit is locked. I was told "no". There was no problem. I also asked about personal v. joint accounts and whether C1 had to match the linked account. I was told no issues there as well. In the end we did a joint account linked to a joint account.

The email I got on opening the account does state that "you'll see your bonus in your new account within 160 days of account opening." So the 90 day period plus an additional 70 days to actually get the bonus?

As of today, they're still showing a 1.50% APY.

Update: On Saturday I got an email to finish linking my account and to confirm test amounts. It provides links to my account.

However the instruction in the email don't mirror the website setup and labels. After some fumbling I did find the verify screen and entered the amounts. But no confirmation message! Pretty sure it completed. I'll wait and see if the transfer happens. It shows as "scheduled" for today. It's not awe inspiring that the email instructions did not concur with the website labels, screens, etc. They should have the email guy/gal do a check of the website every so often.

Update: On Saturday I got an email to finish linking my account and to confirm test amounts. It provides links to my account.

However the instruction in the email don't mirror the website setup and labels. After some fumbling I did find the verify screen and entered the amounts. But no confirmation message! Pretty sure it completed. I'll wait and see if the transfer happens. It shows as "scheduled" for today. It's not awe inspiring that the email instructions did not concur with the website labels, screens, etc. They should have the email guy/gal do a check of the website every so often.

You should call them. I verified online but the deposit wouldn't go through. I had to call and the agent said I never verified. Luckily I knew the amounts and could verify over the phone.

Like some others, I've been a CapOne360 customer since my ING account was transferred there over a decade ago. I got no notification of changes in accounts. My emergency fund has been in a 360 money market account. I don't mind that I'm ineligible for the bonus. I do wish I'd been notified that a new, higher-interest account was available.

Update: On Saturday I got an email to finish linking my account and to confirm test amounts. It provides links to my account.

However the instruction in the email don't mirror the website setup and labels. After some fumbling I did find the verify screen and entered the amounts. But no confirmation message! Pretty sure it completed. I'll wait and see if the transfer happens. It shows as "scheduled" for today. It's not awe inspiring that the email instructions did not concur with the website labels, screens, etc. They should have the email guy/gal do a check of the website every so often.

You should call them. I verified online but the deposit wouldn't go through. I had to call and the agent said I never verified. Luckily I knew the amounts and could verify over the phone.

Good advice! Looks like I had the same experience you had.

Over the weekend I logged on. The link showed as verified and the transfer as scheduled so I assumed it would happen Monday. No. I gave it another overnight. It was still showing as scheduled today, Tuesday. I called and was told the account linking had failed and the transfer was cancelled despite what was showing on the website. After some discussion he sent me a verification number text which I read back to him. It's now scheduled (again) for today. I also got an email with a confirmation number that it's scheduled. As above, not awe inspiring. Good people on the phones.

Before you set up this account get your money organized. The Cap 1 money eligible for the bonus must arrive in the account within 10 days of opening. You can only set up 1 external bank account at a time, and each one will take several days to get the test deposits and verify. In other words, you should have all the money coming from one source.

Thanks for pointing this out. I never thought about it, I just opened this account with one source for transfer but now I'm little anxious to see when transfer will take place.

Happy to report that transfer has taken place from one (and only) source. Took under 5 business days.

+1 No problems here transferring money from Ally.

I actually feel a little guilty about this. In the last 2 years we've taken CO for $950 in bonuses between this and Quicksilver CCs (which we don't use).

Last edited by feh on Wed May 20, 2020 12:55 pm, edited 1 time in total.

Before you set up this account get your money organized. The Cap 1 money eligible for the bonus must arrive in the account within 10 days of opening. You can only set up 1 external bank account at a time, and each one will take several days to get the test deposits and verify. In other words, you should have all the money coming from one source.

Thanks for pointing this out. I never thought about it, I just opened this account with one source for transfer but now I'm little anxious to see when transfer will take place.

Happy to report that transfer has taken place from one (and only) source. Took under 5 business days.

+1 No problems hear transferring money from Ally.

I actually feel a little guilty about this. In the last 2 years we've taken CO for $950 in bonuses between this and Quicksilver CCs (which we don't use).

Don't feel guilty toward CO! They are soaking loyal customers!

(In fact, maybe do feel a little guilty because the "glide path" savings rate they've been giving me and lack of bonuses for being loyal have supplemented your bonuses haha)

Update: On Saturday I got an email to finish linking my account and to confirm test amounts. It provides links to my account.

However the instruction in the email don't mirror the website setup and labels. After some fumbling I did find the verify screen and entered the amounts. But no confirmation message! Pretty sure it completed. I'll wait and see if the transfer happens. It shows as "scheduled" for today. It's not awe inspiring that the email instructions did not concur with the website labels, screens, etc. They should have the email guy/gal do a check of the website every so often.

You should call them. I verified online but the deposit wouldn't go through. I had to call and the agent said I never verified. Luckily I knew the amounts and could verify over the phone.

Good advice! Looks like I had the same experience you had.

Over the weekend I logged on. The link showed as verified and the transfer as scheduled so I assumed it would happen Monday. No. I gave it another overnight. It was still showing as scheduled today, Tuesday. I called and was told the account linking had failed and the transfer was cancelled despite what was showing on the website. After some discussion he sent me a verification number text which I read back to him. It's now scheduled (again) for today. I also got an email with a confirmation number that it's scheduled. As above, not awe inspiring. Good people on the phones.

Two interesting observations after opening my CO 360 account since 5/7:
- It takes a full 6-7 days for $$ to be available in CO after transferring, which seems like a long time. The $$ comes out of my transferred account within 1-2 days, but sits in "processing" for almost a week before becoming available. It does look like those funds are gaining interest, but still, that's excessive.
- As of today, 5/20, the interest rate was shaved from 1.5 to 1.3, so it took less two weeks for them to drop it 0.20.

Definitely keeping for the full 90 days to grab the $500 bonus, but beyond that, I'm not sure. The interface on the website and smoothness of the steps was well thought out and extremely easy to navigate.

Another options is to fund the account by initiating the transfer from the source such as Ally, Chase, Fidelity, BofA, etc. Sometimes these funding sources do not require a trial deposit and that should be much faster.

Another options is to fund the account by initiating the transfer from the source such as Ally, Chase, Fidelity, BofA, etc. Sometimes these funding sources do not require a trial deposit and that should be much faster.

When I opened the account, the option was provided to specify where the funds were coming from as part of the process. I provided routing & account numbers. No verification deposits were utilized.

Another options is to fund the account by initiating the transfer from the source such as Ally, Chase, Fidelity, BofA, etc. Sometimes these funding sources do not require a trial deposit and that should be much faster.

As another point of reference. I opened my account on Monday 5/18 and set up the deposit to pull from my Fidelity account when the account was opened. I received the two trial deposits into my Fidelity account on Weds 5/20 and confirmed them on my Capital One account page. Note that I did not receive any confirmation from Capital One that the trial deposits were sent to Fidelity. My Fidelity account pings me when there is activity and I got the email Weds morning. This morning (Thurs 5/21) the Capital One account pulled the trial deposits and my qualifying deposit from Fidelity. So start to finish for me was three days. Not sure how much faster than that it can be.

- It takes a full 6-7 days for $$ to be available in CO after transferring, which seems like a long time. The $$ comes out of my transferred account within 1-2 days, but sits in "processing" for almost a week before becoming available. It does look like those funds are gaining interest, but still, that's excessive.

In my experience, the "processing" note on CO360 is their equivalent of a holding a deposit. They may have received the funds from the source institution fairly quickly, but they are still going to hold the deposit for whatever length of time they've decided to hold deposits. Like any other held deposit, it still earns interest and is part of your account balance. It's just not available for you to use until the hold is released. That's a pretty standard banking feature, just to make sure the money isn't clawed back by the source institution.

I haven’t gone through the registration process yet to open an account. Once I create the account can I deposit a check by taking a picture of it? I can with BoA and Fidelity.

They do allow mobile check deposit but at most $5000 day. If you're aiming for the highest bonus (deposit of $50000), you'd have to make 10 daily deposits within 10 days.

Not sure if that's true for everyone. When I open my Capital One 360 app, it lists $50k as my mobile daily deposit limit. I think at one point it was $5k (maybe $10k) but I'm not sure when it changed for me. That said, for any amount over $5k, they do hold the funds for 4 business days before release.

I haven’t gone through the registration process yet to open an account. Once I create the account can I deposit a check by taking a picture of it? I can with BoA and Fidelity.

They do allow mobile check deposit but at most $5000 day. If you're aiming for the highest bonus (deposit of $50000), you'd have to make 10 daily deposits within 10 days.

I only want to deposit a small amount to get it started and then I’ll mail a check for $50,000. Who should it be made out to?

(See also above posts by mervinj7)

Write a check to yourself, endorse and write "Deposit Only to xxxxx" where xxxxx is your Capital One 360 account number. If it were me, I'd include a brief letter stating that you're depositing $X into account xxxxx.

I haven’t gone through the registration process yet to open an account. Once I create the account can I deposit a check by taking a picture of it? I can with BoA and Fidelity.

They do allow mobile check deposit but at most $5000 day. If you're aiming for the highest bonus (deposit of $50000), you'd have to make 10 daily deposits within 10 days.

Not sure if that's true for everyone. When I open my Capital One 360 app, it lists $50k as my mobile daily deposit limit. I think at one point it was $5k (maybe $10k) but I'm not sure when it changed for me. That said, for any amount over $5k, they do hold the funds for 4 business days before release.

That's good to know. I got the info on $5k limit from a Capital One service rep when I asked about the best way to get the deposit in on time. Go figure!

Question for N00Bogle: Were you successful in getting a CapitalOne representative to give you a waiver on the 10-day deposit requirement in order to receive the SCORE500 bonus? I have a similar situation in that I opened a 360 Performance Savings account on May 14 with $20,000, and nine days later (May 23) I transferred another $10,000 to the account. CapitalOne sent me an email notice that the $10,000 will be deposited in 3 business days. That will put the transfer outside of the 10-day requirement. So I called a CapOne representative this morning and the rep first told me that I was outside the 10-days and not eligible for the bonus. However I kept insisting for a waiver, so the rep contacted another department then replied to me that I will have to contact CapitalOne in 160 days to request a waiver. I don't buy it for a minute. I plan to call CapOne again, but first I want to know if anyone on this forum had any luck with getting a waiver.

I opened a Capital One 360 account on Thursday 5/21 in order to get the $500 bonus. The same day I initiated a $50,000 transfer from my credit union account but it hasn't gone through yet because I didn't receive the 2 trial deposits to verify my account. I am assuming tomorrow the trial deposits will be there as it will be 2 business days so hopefully I can verify it then. It will also be 5 days since I opened the account so I am getting closer to the 10 day deadline.

My question is if I am able to verify the account tomorrow will the $50,000 transfer that is currently listed as "scheduled" go in automatically on Wednesday (which will be the 6th day) or will I have to do something else?

5/18 - opened a new CapOne account online. Didn't specify a funding source at the time. At Vanguard, I configured my CapOne account as a linked bank.

5/19 - test deposits from Vanguard showed up in CapOne account. I verified the amounts in Vanguard. Got message that it would take 7-10 days for Vanguard to finish setting up the bank account. Doh!

5/20 - tried to configure an external account in my CapOne account to my credit union account. This didn't work because CapOne site had trouble verifying my identity. Ended up on phone with service reps for nearly an hour but eventually got the external account configured.

5/22 - test deposits from CapOne showed up in credit union account. I verified the amounts in CapOne. Initiated a transfer of $X from credit union to CapOne

5/25 - $X showed up in "Current Balance" in CapOne. The "Recent Transactions" shows one line as the deposit of $X and another line as "Deposit(s) on hold" for the same amount. The "Upcoming Transactions" shows the same $X but with a "Send" date of 5/29. $X is still in my credit union account. It seems a bit odd to have a date of 5/29 though; maybe that reflects the "hold" time?

5/26 - Same status in CapOne account. From my credit union account point of view, I now see a transaction "ACH CAPITAL ONE N.A. (Pending)" for $X with a date of 5/26. Vanguard is still in process of verifying my CapOne account and won't let me initiate a bank transfer with it.

I called CapitalOne this morning regarding getting a waiver to extend the 10-day limit for the bonus. My initial deposit of 20K was received by CapOne on May 14 and the second deposit of 10K was received today, May 26. The Rep told me that there is a 5-day grace period, so my second deposit is within the grace period and therefore eligible for the bonus. If you open the 360 Savings account using the SCORE500 promo, you actually have 15 days to have your funds deposited into the account in order to be eligible for the bonus. FYI, it takes up to 3 business days for funds to transfer from your bank or brokerage account to the CapitalOne 360 Savings account so keep this in mind if you are considering opening a 360 Savings account at CapitalOne.

All are credit bureaus are frozen. I called Cap1 before hand and was told it was not a problem. It was not a problem for me. The account is up and running, the transfer completed and the funds show as available.

When I set up the account I used a google Fi cellphone number in my name at an address in my name in another state, plus a home landline at the account address, plus a google voice number. All went well on the initial setup, received texts on my cell. I later tried to set up sending the 2FA code to my google voice. It would not accept the number even though it is listed in the account. I was told they do not send to google voice numbers.

I did try to add a second bank link to my account yesterday. They apparently use a 3rd party vendor to verify you when adding an additional outside account. The online add program would not send a text to my cell saying it could not verify I owned the account despite having sent texts before and it being the primary number on the account, nor to my google voice account. I had to call and do a work around with a security person, them sending a code to my cell while I was on the line and reading it back to them. (Sounds like the scams you read about here.)

I've found the people on the phones to be great. I'm disappointed in the details of verifying the trial deposits. The email instructions do not match the online screens. The phone issues above are a concern as well.

well that was a disappointing phone call. Just got off the phone with capital one customer service and they said since I already had capital one savings accounts opened, I'm ineligible for this SCORE500 promo. didnt realize this was only for new customers.

guess I have to learn to read the fine print better.

does anyone know of any promos for existing customers? or similar ones at other online banks?

well that was a disappointing phone call. Just got off the phone with capital one customer service and they said since I already had capital one savings accounts opened, I'm ineligible for this SCORE500 promo. didnt realize this was only for new customers.

guess I have to learn to read the fine print better.

does anyone know of any promos for existing customers? or similar ones at other online banks?

Very occasionally, they'll email a promo to an existing customer. I haven't received one in a year or so, and the last one capped out at a fairly low bonus amount, maybe $50-100, I can't recall specifically.

well that was a disappointing phone call. Just got off the phone with capital one customer service and they said since I already had capital one savings accounts opened, I'm ineligible for this SCORE500 promo. didnt realize this was only for new customers.

guess I have to learn to read the fine print better.

does anyone know of any promos for existing customers? or similar ones at other online banks?

Some of us existing customers got a targeted offer for $450 for adding and keeping $50k+ in the Performance Savings account until 08/29. See text of email in previous post:viewtopic.php?f=2&t=314067#p5238058